Thai Union’s pet care subsidiary i-Tail Corporation has acquired Phelps Industries, also known as Phelps Pet Products, for an enterprise value of USD 160 million (EUR 143 million).
Thai Union launched i-Tail Corporation in 2021 as a subsidiary focused on the pet food industry, and began an initial public offering of the company in 2022. Since that time, the pet food business has been a big winner for the company, and PetCare was its fastest-growing category in Q1 2026.
The acquisition of U.S.-based Phelps Pet Products expands its presence in treats and specialty nutrition, i-Tail said, and combines Phelps’ dog nutrition and portfolio of air-dried foods with i-Tail’s premium wet cat food, as well as establishing a manufacturing presence in the company’s largest market.
"As pet owners increasingly treat their pets as family, demand continues to grow for a wider range of treats, snacks, and innovative pet food solutions,” i-Tail CEO Roy Chan said in a release. “Phelps is a strong strategic fit for i-Tail, bringing differentiated products, expertise, and market capabilities that complement our strengths and deepen our presence in one of the world's largest pet food markets.”
Phelps, which has a corporate offices in the U.S. state of Illinois, produces a number of different brands including Table Scraps and Glad Wags. The company utilizes salmon, whitefish, and silver carp in some of its treats.
“Joining i-Tail marks an exciting new chapter for Phelps’ customers, employees, and vendor partners,” Phelps Pet Products President and CEO Rick Ruffolo said.” Both companies have a decades-long history of serving the pet industry, being leaders in certified sustainable manufacturing and sourcing practices, and providing innovative products to our customers. Combining our experience in the North American market with i-Tail's global reach and expertise in pet nutrition, we can broaden our collective product offerings through cross-selling and exploring opportunities in new categories which will enable our respective customers to innovate and grow market share.”
Chan said the acquisition will help i-Tail close in on its goal of reaching USD 1.5 billion (EUR 1.34 billion) in annual revenue by 2030.
